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How do I set my financial goals

I’lltell you upfront – even though I’m not trading yet I know exactly what I want o achieve. And to many my goals might not sounds reasonable at all. Like mentioned in my previous post, I will most likely be day trading on both – stock market and foreign exchange and I expect to get a minimum of 3% ROI per day for 20 days each month. So when you look at it like that....20*3 = 60% ROI per month. And this includes all commissions as well, only tax will go off from this sum.

Actually the total ROI would be even bigger, possibly up to 80% per month if we consider the fact that every day we will have 3% more money to play with.While these percentages might sound utopical and not too real – if you are a winning trader ( meaning you win with 2/3 of your trades, you have proper stop-loss limits etc) I do believe this is possible. Some of you may now of course ask – If it is possible to earn 3% ROI from your investment each day then why aren’t we all millionaires? Justified question. To answer this there are couple of things you need to think about –

Everyone can’t always re-invest all the money he has earned. So lets say you earn ... 30% ROI each month, but you also need money for living...so you might end up just earning you monthly living money without re-investing it.

Trading on stock market and foreign exchange is not safe, everyone playing there have a great chance to lose all their money, especially if they don’t have enough knowledge and experiences (that’s what most of us lack). So instead of day trading many you might decide for yearly long investments that might bring you 20% ROI per year ( or lose the same amount ) or invest into 90% sure things where you earn like 5% or 10% per year – mutual funds might be a possibility here.

You know how to trade, when to trade, you know all about risk management, portfolio management etc, but you still don’t act upon your knowledge. This is rather common as well.

Not everyone are interested in day-to-day trading just like not everyone is interested in owning their own business or travelling a lot or...you get the point.

These are just some reasons, feel free to put additional reasons to your comment.